Barings, via one of its European core real estate strategies, has agreed the sale of a logistics asset near Lyon, France, to Fidelity International on behalf of its pan-European Fidelity Real Estate Logistics Impact Climate Solutions Fund (LOGICS).
The parties agreed not to disclose financial details.
The 27,622sqm property in Saint-Laurent-de-Mure was purchased in July 2019 as part of a portfolio of three assets let to La Poste 鈥� one of which, in Mign茅-Auxances in Poitiers, has also been sold, and the remaining one after this sale, in Villeneuve-la-Garenne, remaining under management.
Saint-Laurent-de-Mure was built in 2004 specifically for the tenant, which has a lease until 2029, and is made up of 25,215sqm of warehouse space, 2,139sqm of offices, and 222sqm of other uses on a 66,395sqm plot. It also includes 154 external light vehicle parking units and 47 spaces for heavy-goods vehicles.
The property is in a prime logistics hub within what is known as the French 鈥榖ackbone鈥�, the logistics corridor that crosses the country from Lille in the north to Marseille in the south, passing through Lyon.
The asset in Saint-Laurent-de-Mure is the second core logistics asset that Barings has sold to the LOGICS fund, following the disposal of a 55,600sqm asset in Ontigola, Spain, at the end of 2024.
Guillaume Bieganski, managing director and country head France at Barings Real Estate, said: 鈥淏enefiting from an excellent location along France鈥檚 most important logistics corridor, offering easy access across the country and into Italy and Switzerland, and amid very strong interest among investors for core+ logistics assets, our on-the-ground team identified the opportunity to exit in a shorter holding period than our original business plan proposed.
鈥淭he French logistics market continues to be a compelling one in western Europe and we remain actively acquisitive across our preferred asset classes, including logistics and living, in cities across the country.鈥�
Gunther Deutsch, managing director, head of European transactions and country head Germany at Barings Real Estate, added that France in particular has proven to be a 鈥渧ery interesting and profitable market鈥� for Barings and its partners.
鈥淔ollowing our aim to actively recycle capital across our countries we have already sold seven assets with a value of 鈧�380m in 2025 with some more to come in the pipeline. With nearly 鈧�2bn to invest in equity opportunities this year, we are also interested in core+ and value-add transactions. This can be done through developers JVs or forward transaction across all of our jurisdictions,鈥� he said.
Yinjie NI, real estate investment transactions manager at Fidelity International, said: 鈥淎fter our initial investment for LOGICS in Combs-la-Ville in early 2025, we are thrilled to strategically expand our French portfolio with a new off-market acquisition in Saint-Laurent-de-Mure, located in the East Lyon Region, one of the most prominent logistics markets in France.
鈥淲e plan to implement an ambitious capex plan to renovate the asset and substantially enhance its ESG and sustainability aspects, fully aligning with the fund鈥檚 manage-to-green strategy.鈥�
Aymeric de Seresin, lead portfolio manager of LOGICS, sait that with the addition of the Saint-Laurent-de-Mure asset, the LOGICS portfolio now comprises 11 assets with approximately 300,000 sqm of gross lettable area across well-established European logistics markets.
He added: 鈥淔ollowing the successful first and second closes which raised 鈧�310m in capital commitments, and with a final close anticipated later in 2025, we are well-positioned for capital deployment thanks to our robust pipeline in Europe and the UK.鈥�
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